Blackstone buys New Zealand retirement villages

The US group acquired the properties from Lendlease.

Blackstone buys New Zealand retirement villages

Blackstone said on Wednesday that it plans to buy a retirement village portfolio in New Zealand from Australian property developer Lendlease.

The world’s biggest real estate investor said it has signed a definitive agreement to acquire the portfolio of five villages.

Four of the villages are in Auckland -- the Knightsbridge, Mayfair, Parklane, and Peninsula Club. Another is in Mt Maunganui and called Ocean Shores village.

The five villages...

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